This acquisition is valued at up to £6million and is expected to enhance Good Energy’s presence in the commercial solar sector.
Strategic expansion into decentralised energy services
The acquisition aligns with Good Energy’s strategy to expand its decentralised energy services, allowing the company to significantly broaden its solar installation reach, particularly in Lincolnshire and the north of England. Amelio Solar has built a strong reputation for delivering rooftop solar solutions across the commercial, education, and public sectors.
This complements Good Energy’s existing domestic installation services and furthers the company’s mission of helping customers generate, use, and share clean energy.
Transaction details and future plans
Good Energy has acquired 100% of Amelio Solar’s issued share capital on a debt-free, cash-free basis for an initial £5.5 million. An additional £0.5 million deferred consideration may become payable in early 2025, subject to Amelio Solar achieving gross profit targets for the year ending December 2024.
Amelio Solar’s founder, Richard Jones, will continue with the company to assist with the post-acquisition transition. Amelio Solar is expected to expand Good Energy’s geographic footprint and commercial solar capabilities, with its strong presence in the commercial, education, and public sectors driving growth.
Nigel Pocklington, CEO of Good Energy, said: “Amelio Solar is a perfect fit for Good Energy as we continue to grow our clean energy service offerings, especially in the commercial and public sectors where demand for solar installations remains strong and less susceptible to the cyclical fluctuations seen in the domestic market.
“Amelio Solar’s proven ability to deliver large, complex solar projects will enable us to better support businesses and public sector bodies in cutting their carbon emissions, while positioning Good Energy as a leader in commercial solar solutions.”
Image: Good Energy